A digital euro beyond impulse – think twice, act once

A new study highlights that to ensure widespread adoption, the digital euro must offer a compelling value proposition and clear benefits to consumers and merchants in the EU, while the EU’s legislative framework should allow for these benefits to gradually emerge over time. There is a need to minimise the risk of crowding out European private solutions, which would impact competition and the attractiveness of the European payments market, while at the same time hinder the digital euro’s adoption.

Formed in April 2023, a CEPS-ECMI-ECRI Round Table brought together a working group of market operators and infrastructure providers, central bank representatives, regulators, and academics to take part in research and in-depth discussions over a six-month period.

“The digital euro represents an opportunity to think together, both the public and private sector, about how we will make payments in the future. Together, we can shape a future that is more competitive, efficient, and inclusive, unleashing tremendous economic potential and fostering prosperity for Europe's citizens and businesses.”, Jose Antonio Alvarez, Chair of the Round Table, and Vice Chairman of Santander